Havila Shipping ASA has today, through its subsidiary Havila Ships AS, entered into an agreement with Havila Ariel ASA of a sale and leaseback of the AHTS vessels Havila Mars and Mercury. Price per vessel is NOK 476 mill and is based on valuation from three independent shipbrokers. The lease- agreement has a length of eight years, with a purchase option after the 5th and the 8th year. Agreed bareboat hire is approx. NOK 150.000 per day for each of the vessels during the first five years. Profit from the sales will be approx NOK 250 mill, and will be booked in the 4th quarter accounts. A free cash of NOK 400 mill will be released through this transaction. The Board of Havila Shipping ASA has decided to hold an extraordinary general meeting as a result of this. They will recommend an extraordinary dividend of NOK 200 mill. Through this transaction Havila Shipping ASA makes added values visible for its shareholders. The strong cash position gives opportunity to further development of advanced offshoreservice- vessels For more informastion: Njål Sævik mobil: +4790935722 Nils Peter Skeide mobil: +4791530965